Ask MetaFilter questions tagged with business and LLC

Bobs LLC dba FrankFurters

cavalier — Mon, 05 Jan 2009 10:56:45 -0800

LLC d/b/a BBQ. Let's say I incorporate as "cavalierisawesome lol LLC". I then make a business card that says "Bob's Consulting". When I do business, the bills are settled to "cavalierisawesome lol llc". Can I market or advertise my services in a name separate from my incorporated name? The webs fail me, so I turn to the Ask.Mefi gods. Let's set a few ground rules:

1) I'm assuming I need to file a d/b/a for any name I put on business cards, websites, etcetera. I'd just love to be a little more informed before I start soliciting esquires.

2) This is not a case of wanting to change the business name every month, but more rather; I don't know what the hell I want to call the business yet, but I'm getting bites to do work. So I'd like to incorporate now, and then later use a different name for more established collateral/branding.

3) I'm certainly not trying to co-opt or otherwise take someone's trademarked, lovable name. See #2.

sole proprietor to LLC in California

supermedusa — Wed, 20 Aug 2008 15:17:33 -0800

Experiencing turning a sole proprietorship into an LLC in California? I am definitely planning to make this switch, for liability protection reasons. I am looking at Nolo Press Online California LLC and this website as possible ways to accomplish this. Have you used these or some other method to transfer a sole proprietorship into an LLC in California? Do you recommend one package or outfit over another? Did you feel that the switch was worthwhile tax-wise etc., oops that is too many questions! thanks!!

Doing Business Internationally

curiousleo — Fri, 11 Jul 2008 08:44:37 -0800

Doing business in foreign country... Should I LLC it in U.S.? Other CPA questions. I will be talking to my CPA next week, but would like to do think over few things during the weekend.

I am about to buy 50% share of a consultancy firm, X, in Japan.
In Japan, I will be an official 50% owner as a foreigner. I will be paying what ever the taxes in that country for what ever I earn from there.

The question is what to do in U.S. since I am an American.
I will be reporting my earnings in Japan in US also.. but my understanding is that I wouldn't have to pay US tax since I already paid Japan tax. (am i right? how do i prove this to irs?)

Also... would it be better to setup X-USA, LLC so that I can report my X-USA expenses to U.S.? (airline fee, hotels will not be reimbursed from X-Japan.

It looks like the X-Japan will pay my earnings to my self, Jack Smith, instead of X-USA, LLC. It won't matter to me since X-USA, LLC is basically me.

But... since X-Japan will pay to Jack Smith's personal account in Japan, How do i report to IRS in U.S. that X-USA, LLC is actually the one who got the earnings. (or does it matter if a check is issue to Jack Smith or X-USA, LLC ? ((which is 100% owned by Jack Smith)))

The X-USA, LLC will probably never earn anything in U.S.

After this reading, I would take any thoughts and suggestions.

**note: I could possibly not create any LLC and just use my own personal accounts and personal names to do this business....

Multiple LLC / Joint Effort Question

mehum — Mon, 07 Apr 2008 07:08:01 -0800

Can two LLCs work together on a joint venture without forming a third? A friend and I (both software developers) are considering an online business venture, and the original thought was to form an LLC under which to do this work. However, having both considered forming LLCs of our own in the past for various side projects, we are wondering now if it would be possible for us to each form our own LLC and have this new venture be a joint effort of the two companies. This would allow us to each pursue individual freelance work on our own and have our own companies in place to handle it. So is this possible without forming a third LLC owned by the two individual ones? And if so, how would financial issues, such as receiving a payment from a client, be handled (i.e. who is the check written to)?

Or are we better off just forming a single LLC between the two of us for this venture, and each forming our own separate LLCs for our personal projects? (or each forming our own LLCs and then forming a third owned by the two?)

Alternatively, if an LLC is owned by two individuals with a 50/50 distribution, and one individual has the opportunity to do a solo side-project, can it be done under the LLC without the profits being split?

What are the implications of buying an existing LLC in Massachusetts?

pikaboy202 — Thu, 17 Jan 2008 17:48:34 -0800

What are the implications of buying an existing LLC in Massachusetts? I'm currently thinking of buying an existing law practice (LLC) in Massachusetts. The previous owner is a friend of mine and she wants to sell it to me.

She's going to close down all operating and IOLTA accounts before transferring it to me. She also rents an office space which I hope will be re-leased by the time I take it over in March. If not, as the new member/manger of an old LLC, am I responsible for the lease? I do not want to take over the lease since I have my own separate office space.

Am I responsible for any malpractice she might have committed while she was the member? What other things should I consider before doing this?

Where should I register my company?

mateuslee — Tue, 09 Oct 2007 03:57:08 -0800

I'm going to register my company as an LLC. My next question is where? Which US state is the best for this?
I posted a Q here a few weeks ago, and you guys really helped me out (thanks!)

http://ask.metafilter.com/70013/A-new-business

I'm now curious about where you think I will be taxed the least and deal with minimal hassles. I heard good things about WY, NV, and AL - but a google search reveals only adverts and little data.

I think I can register in any state I choose to and the process of becoming an LLC seems like something I can do myself just via a state's website. If you have any experience with this, please share it. I'm really a newbie. Bonus points if you can indicate a trustworthy accountant in the state who can file taxes for the company once formed and do any legwork that I can't do myself. Cronyism/nepotism ok.

Thanks a lot!

My wifes home health care business is an LLC so does that mean all our personal assets are protected?

qsysopr — Sat, 16 Jun 2007 04:56:22 -0800

My wife owns a home health care business with some other nurses and she says that because it's a LLC, our home, 401k, and other personal assets are safe from being used in a judgement. Is it that simple? My wife who's been an RN for many years, has never even had nurses liability insurance (and still doesn't) so I'm not sure if she understands what her personal risks are as a nurse.

LLC, S-corp or continue as a sole proprietor?

photoslob — Tue, 03 Apr 2007 18:58:11 -0800

LLC, S-corp or continue as a sole proprietor? I've run a side freelance photography business for 4 years now and I expect it to become my sole income in the near future. I'm looking into the various types of incorporating and I'm wondering if I even need to or are the tax incentives worth the extra paper work and costs. I understand the idea of being shielded from liability but that's not the incentive. I don't have any partners so I'm unsure of the justification to go the s-corp route versus LLC. I've already established a business account but my earnings currently get lumped in with my 40-hour/ week job and my spouses earnings. Part of my desire to incorporate is to seperate my business earnings from my "family" earnings to make things a little easier at tax time.

(and I know I need to run all of this by a real live cpa but I'm just looking for some direction - thx)

Please recommend a small business lawyer in NYC

milarepa — Mon, 02 Apr 2007 06:20:59 -0800

Can someone recommend a small business lawyer in the NYC area? Also, in your opinion, which would be better for me an S Corporation or an LLC? I am looking to form an LLC or an S Corporation. And am not sure which one is better.

I need some advising on which is best for me, the ramifications of each, and then someone to help me incorporate. That's why I would like recommendations of a lawyer in the NYC area.

In short, I am looking to incorporate a small cleaning business. Do you think an LLC or an S Corporation would be better?

Any recommendations are great.

Thanks

Attempt to control artist through LLC???

msshe — Thu, 18 Jan 2007 16:35:03 -0800

can someone form an LLC specifically and solely based on another individual's work/product -- without telling/consulting them? A *LOT*-- Of course, I know that I would need to sign something to be legally bound to an agreement, but I'm completely perplexed (and angry) and trying to figure out why this happend:

I am an artist, (paintings), only recently doing my first shows/sales. Lot of committment and significant financial support from my non-romantic partner/housemate/best friend who offered me this ipportunity to develop my work with his financial support. Statements of paying him back entailed "I don't expect or require anything, but if you become a huge success, it would be nice to know you could pay back something. I wouldn't turn it down." This statement did not change until recently---when I made my first
sale. (cah-ching!).

I had formed a business identity for myself, with cards, print materials, logo, typeface, and I was in the process of building my website under my trade name which I expected to use to encompass all my current and future actions as an artist.

I then went out of town for the holidays (2000 miles out) and was gone for several weeks. During that time I got an email from my friend saying that he had formed an LLC under my artist name/identity (using it for the name of the LLC) and did this primarily becuase he realized that he could get a tax advantage if he formed a company quickly, and he also decided that making himself sole owner of my trade name would entice me to
work on an agreement with the company in which he would also own everything else I've created and will create in the future (all rights, everything) because I suddenly "owed" him a specific amount of money for his contributuions to me and my art, which is the same amount of money he submitted for expense deductions for his LLC. These included the $500 for the accountant to set up the company, my christmas present, food purchases he told me to make, items for his home that I did the physical picking out and bringing back to the house, insulation in the room I use as a studio... cash he gave me when he was gone for a week with the car and groceries were needed. Airfare that he loaned and was repaid, etc. I am expected to repay him for all these things--wasn't even in the state when he purchased a $400 tool!

Needless to say, I refused to agree to have my name taken without my consent or knowledge, and registered as a legal LLC basically making it impossible to protect it myself (I didn't think it was necessary since i had just started out.

He is attempting to coerce me into entering into an agreement whereby my art is owned by this company, and to which all profit go. THe company will still pay for art supplies, and if and when my debt is "paid off", I might be "cautiously" considered for a share in the company. Unfortunately, as described, if I continue to owe and incur debt for the expenses of the company, that will never happen.

I don't understand how this could in any way be legitimate, and I am not doing anything with this person and I have insisted that he release my name so I can register it myself as planned. He refuses, stating that he did this for my benefit and thinks it would be a waste to use another name for his company.

If, on the slim chance, I were to enter into an agreement (that I knew about and was consulted in), I would expect to represent myself as (my business name) and form the agreement with (other name LLC), retaining my IP and moral rights to what I create, regardless of how profit shares and such are divided.

Yes, I can just drop this and use some other name. Unfortunately I made a huge mistake and found a name that is personally meaningful and can't be altered and not lose that significance. I fully expected to protect it, and it is valuable only to me. My friend said if I refuse to consider working with him, he will just dissolve the company and let the name become available to "the next person who wants it" rather than change the LLC and at least give me warning so I can register it safely.

My friend seems to think that I am going to make some money with my paintings, and with my tiny, new start, it looks positive but that guarantees nothing. I am dedicated and I think I will only get better. This whole fiasco may have cost me my first solo show and reception in NY state, and that was a big deal. I am stuck for the moment and somewhat at the mercy of my friend, because we had been operating on a financial agreement that he just stopped when I balked at my name, and for the short term, I am stuck without repleneshing paint and its just a mess all around.

I am shocked that he formed this LLC, seizing my name and expecting to structure this entity based entirely on me and what I do--without saying a word to me (and expediting the process so it would be done before I returned to the studio/house--which he is also charging me for). He is bullying me into signing onto this company (with no rights or profit shares) with my name as leverage (which will not work, and I've made that clear), I think he may be afraid of what to do with this defunct company and having to justify those expenses.

I would really like some constructive advice--I'm ashamed and frustrated, so constructive criticism is welcome to, but I've already done the beating myself up part.

Sorry for the length. I would love some insight from any of you. There has never been any indication that this person was anything but trustworthy and decent. I don't understand. Are there legal implications I'm not getting? What could they possibly be? I don't have anything except my artwork. Only half of which is fine enough to sell.

help me help the man

luriete — Fri, 08 Sep 2006 09:55:59 -0800

I'm trying to make my new web project legal in California. After reading through the Nolo press book(s), we thought that perhaps the LLC was the best corporate structure (we are going to issue stock and give the primary developer a portion in lieu of payment). While the Federal government taxes LLCs like sole proprietorships - you aren't taxed unless you make profit, and I don't see our profit outpacing our costs for a year - the State of California charges an LLC "tax" (really a fee) of $800, due almost immediately after your incorporation paperwork goes through, so... Is there a way to legally put off the incorporation until we can afford to exist as a corporate entity? If we have $799 in startup costs before then, can we defer the deduction of those until after we incorporate and pay the $800? Is the $800 in California state tax fee deductible as a business expense on our federal return?

I'd like to consult an attorney but of course cannot afford to, as this project is, at least during its early development, on a shoestring budget. Any suggestions on other tax resources for small businesses?

Income tax question for an LLC

limitedpie — Tue, 24 Aug 2004 11:51:58 -0800

If one has a business that is registered as an LLC (with no partners-- just the one person) and if: the business location (office) is in one state, the owner lives in another state and most of the business (or clients) are in a third state in which state is state income tax due-- where the office is, the owner's residence or where the clients are?